Profit before tax stood at Rs 8,850.01 crore in the September 2023 quarter, up 15.12% from Rs 7,687.48 crore recorded in corresponding quarter last year.

Consolidated coal production (raw coal) increased 13.07% to 157.426 million tonnes (MT) in Q2 FY24 as against 139.228 MT posted in Q2 FY23. Meanwhile, offtake (raw coal) increased by 12.42% to 173.731 MT in Q2 FY24 as compared to 154.533 reported in the corresponding quarter previous year.

During Q2 FY24, total expenses rose by 9.38% YoY to Rs 26,000.05 crore. Cost of materials consumed was Rs 2,580.80 crore (down 15.10% YoY) while employee benefits expense stood at Rs 11,645.37 crore (up 7.54% YoY) during period under review.

Meanwhile, the company's board has declared first interim dividend of Rs 15.25 per equity share for the financial year ending 31 March 2024. The record date is fixed on 21 November 2023 and payment of dividend will be made by 9 December 2023.

Coal India is a coal mining company engaged in the production and sale of coal. As of 30 September 2023, the Government of India held 66.13% stake in the company.

The scrip shed 0.02% to settle at Rs 323.45 on Friday, 10 November 2023.